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ADMS 3510 (18)


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York University
Administrative Studies
ADMS 3510
Rebecca Jubis

Pros of Investment Funds: 1 Pooled diversification – Modest investment – Average investor 2 professionally managed portfolio 3 Variety 4 Liquidity Services 5 Automatic reinvestment of gains (dividends interest) Exchange Privilege Cons Of Investment Funds: 1 Most funds barely keep up with market high management fees: % of assets charged annually to manage the fund Not tax-deductible Example: fund return is 10 2 less management fee 2% return =8% v Note the differences between Management Fees and Mgt Expense Ratio. Includes management fee plus other transaction costs such as commission when buying plus selling. Types of Investment Funds Open – Ended (Mutual Funds) Unit Investment Funds (UIT) Holds a fixed portfolio of specific securities Closed-Ended (mutual fund traded on stock ETF –Exchange Traded Fund-- A security that tracks an exchange like shares) index that is traded on a stock exchange 1. Open End Funds (Mutual Funds) 1 Continually sell and redeem shares 2 Shareholders/unit holders deal directly with Investment Company 3 Unit holders of a funds own the mutual fund similar to
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